New car sales in Germany decreased 11% in September, according to the German import car brand association VDIK.
It seems that the economic crisis reached Europe’s top and toughest economy, Germany, which reported a decreased of 11% in September, more exactly 10.9% with 250,082 units sold, compared with the same period last year. Last month was the third consecutive decline, a clear evidence that Europe’s powerhouse economy begins to be severely affected by the near three-year eurozone debt crisis.
During the first three quarters of this year, Germany sold around 2.4 million cars, with 43,000 fewer compared with last year. Contrary to expectations, during the first 9 months of the year, high-end cars sold better than the models further down the range. Porsche sales were up 13.6% and Audi sales increased 8.4%. On the other hand Opel saw a 13.2% fall and Ford’s sales dropped 8.8%.
“We’ll probably see a continued weakness in southern Europe and in addition to that an accelerated weakness in France and Germany,” said Arndt Ellinghorst, a London-based analyst at Credit Suisse Group AG.
In August auto sales in Europe dropped 8.5% to 722,483 units compared with 789,458 units over the same period last year. Germany, the country which helped offset declines in the other markets, saw its sales drop 4.7%.